Ibiza is a trendy holiday destination, for families, couples and group of friends. Its charm is a mix of unspoiled nature with beautiful turquoise sea and stunning beaches and a vibrant nightlife. Buying in Ibiza looks to be a good investment decision thanks to prices continuing to rise and a steady growth of demand from tourists, which means rental income is attractive.
But before making your move into the blooming Ibiza property market, there are a few things that you should take into consideration:
1. KNOW THE LEGALITIES
Before investing in the Ibiza real estate market, you will need a good understanding of the strict laws governing tourist rentals. The new law that was approved on July 2017, stated that all properties intending to rent to holidaymakers must have a license. However, license applications have currently been frozen for the next 12 months until the local governments decide which areas holiday rentals will be permitted. If you want to know more, contact our experienced team.
2. THINK ABOUT YOUR IDEAL TYPE OF CLIENTS
When it comes to location, there isn’t really a bad area, but you should consider what type of clients you would like to attract. Families coming to the island, are looking for a more laid-back holiday than a group of friends. Couples will need smaller accommodation to families and group of friends, so 1 bedroom apartments or smaller villas are the ideal investment if you would like to attract this type of client. Read our previous post: ”Ibiza hot spots for holiday rentals” for more information
3. GET THE BEST BUY-TO-LET MORTGAGE
If you are considering buy-to-let, do not just walk into your bank and ask for a mortgage. You should instead do some research first, weigh up which mortgage is right for you and then decide which one to go for.
Now ready to invest? Let’s have a look at the properties available on the market in Ibiza: Property For Sale